The American billionaire predicts a tripling of Tesla’s share price and a fivefold increase in bitcoin

According to Palihapitiya, the richest man in the world should be someone who solves and corrects climate change. He stood up for Elon Musk. According to Palihapitiya, trillions of dollars are being spent on energy, which, combined with the impending disruption of the industry, will lead to an increase in Tesla’s value. The investor thus adds to the voices that Tesla is not just an ordinary car manufacturer, but rather a technology and energy company.

In addition to electric cars, Tesla also has other offshoots, including roof solar panel projects and home energy storage. Its proponents see this as visionary and a promising future. For example, Jan Dvorský, who has been working for Apple for several years, is of the opinion that Tesla will become the world’s most valuable company by 2030.

“I don’t understand why people focus so much on selling (meaning Tesla shares) something that works. He is (Musk) one of the most important entrepreneurs as well as Bezos. So why bet against them? ” said Chamath Palihapitiya, why does not he think it is appropriate to sell Tesla shares. “At Tesla, they have a strong character, they know what they are doing and they do not bend for short-term gains,” he added. According to him, the current situation on the markets cannot be compared with the period around 2008, now he sees greater value in investments.

He also commented on the so-called SPACs (special purpose acquisition company), ie companies that go public on a stock exchange for the sole purpose of merging with another private company and thus bringing it to the stock exchange. This is exactly how Richard Branson’s Virgin Galactic company and Nikola’s hydrogen carmaker went public. She wanted to compete with Tesla, which drove her shares to about nine times their initial value. But then it turned out that it was not developing as far as it claimed, and its shares gradually fell again by tens of percent.

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“I do not think this trend is at its peak. An easy way to get on the stock market is an attractive thing, and that’s what SPACs offer. In short, there will be traditional stock exchanges and then mergers, “Palihapitiya predicts a promising future for so-called reverse mergers.

He also recalled times when bitcoin cost only tens of dollars. According to him, within five to ten years, this most famous cryptocurrency can reach a price of 100 to 200 thousand dollars. Compared to the current price of the most famous cryptocurrency, which is in sight of the $ 40,000 mark, it would be up to five times its current value. That this is not unrealistic is shown by the growth of bitcoin last year. It cost less than $ 4,000 in the spring, but has grown steadily since then, exceeding $ 40,000 in January this year. According to the investor, the demand for cryptocurrencies is also recorded in events such as the recent “occupation” of the chapter, which increases the need and meaning of a certain insurance against the uncertainties of today’s world.

Palihapitiya also expressed some criticism of the social network Facebook due to the pursuit of short-term profits and the lack of morality and ethics in the company’s decision-making. According to him, it should be seen as a publisher and should face tougher regulations, because it contributes to the polarization of society. In the past, Facebook was accused of monopoly behavior or allowing Cambridge Analytica to trade user data, which many critics said helped target advertising for the election of Donald Trump as president in 2016.

Chamath Palihapitiya (44 years)

Canadian-American businessman and investor with Sri Lankan roots. He started as a derivatives trader, then headed the communications division at AOL and also worked on Facebook. He then founded the investment company Social Capital, with which he invested in companies such as Yammer and Slack. About a year ago, he helped reverse Virgin Galactic go public with a reverse merger, and has since established several other so-called SPACs. According to estimates, its assets amount to over twenty billion crowns. He likes to play poker.

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